Rebar market in the UAE

SteelOrbis has heard that the price level of domestic rebars in the UAE market is at AED 1,940/mt ($529/mt) ex-works, excluding VAT. Meanwhile, the price level of imported rebar in the UAE is at AED 1,920-1,950/mt ($523-531) on a theoretical weight basis for three-, four- and five-month deferred payment. The domestic rebar prices have not indicated such a rapid increase as import prices have. Turkish rebar offers for the UAE market are at $515-520/mt CFR on theoretical weight basis. Chinese offers are at $460/mt CFR. However, trading firms are not showing interest in these offers. Only a few construction firms are showing interest in these offers. Furthermore, trading firms are not eager for the Ukrainian-origin rebar due to the high rust levels in Mittal Steel Kriviy Rih's cargo and also due to packaging problems.